AG...Let me elaborate a bit more so that I am not misunderstood. During the webcast, that revenues could match operating expenses was said twice, but it wasn't stated with authority...only a possibility. I think most appreciated this perspective since in prior quarterly conferences this hinting of what might materialize was not articulated from my recall (although I appreciate that you remember this particular issue differently).
As for the need to dip into the well and find more funding in the not-too-distant future, I don't really disagree. After resolving debts and some troublesome warrants, about $3-4M is left from the S-1. If revenues don't ramp up soon, money could run out in Q2. However, if indeed revenues begin to neutralize operating expenses as was mentioned, wouldn't we all be pleasantly surprised to see re-funding efforts become something of the past? This was simply the optimistic corner from the back of my mind talking, nothing that any management officials stated.
Like you, I am unhappy about recent events - stock decline, S-1 dilution with cheapened APDN shares and now the Q4 results. The unexpected lack of Q4 revenues was perhaps the most deflating surprise. But the CFO explained that some of the scheduled revenues fell into the deferred category and will be corrected in Q1, so this softened some of my disappointment. Putting Q4 aside and looking at the overall gain of revenues and contracting losses for 2014 v. 2013, I believe ADNAS stumbled in Q4 but is still headed in the right direction.
Most of us judge managerial performance by the company's stock price. By that standard management should have been fired long ago. However, my intuitions still contend that APDN still is not reflecting an accurate value of its true worth. The insiders are the largest block of stockholders. For all the suffering we have sustained, management has sustained proportionately more. That doesn't excuse their leadership but tries to place our combined situations into a fairer perspective.
I remain hopeful that APDN will make a turnaround. We have already been told that Q1 revenues will exceed $1M. When has management ever forecasted quarterly revenues before? Moreover, is $1M/Q the new standard? Can we anticipate $4M for 2015? Can we actually expect more than $4M for 2015 due to the announcements that 2 contracts should provide $4M over the next 2 years and that in the past no singular source of revenues exceeded 10% of the total revenues? From my perspective, the future looks brighter than it has ever looked before. All of this fuels my optimism.
GLTY & GLTA.
